7 I look for the answers of these three qouestions 1 In the balance sheet at the end of its first year of operations, Dinty Inc reported an allowance for uncollectible accounts of $83,500 During the year, Dinty wrote off $31,000 of accounts receivable it had attempted to collect and failed Credit sales for the year were $2,280,000, and cash collections from credit customers totaled $1,870,000 What bad debt expense would Dinty report in its first year income statement 2 Logistics Company had the following items listed in its trial balance at 12 31 2016 Balance in checking account, Bank of the East $482,000 Treasury bills, purchased on 11 1 2016, mature on 1 30 2017 17,000 Loan payable, long term, Bank of the East 400,000 Included in the checking account balance is $41,000 of restricted cash that Bank of the East requires as a compensating balance for the $400,000 note What amount will Logistics include in its year end balance sheet as cash and cash equivalents 3 Frasquita acquired equipment from the manufacturer on 6 30 2016 and gave a noninterest bearing note in exchange Frasquita is obligated to pay $572,000 on 4 30 2017 to satisfy the obligation in full If Frasquita accrued interest of $15,000 on the note in its 2016 year end financial statements, what amount would it record the equipment on its 6 30 2016 balance sheet

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7 I look for the answers of these three qouestions: 1**** In the balance sheet at the end of its first year of operations, Dinty

I look for the answers of these three qouestions:

1**** In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $83,500. During the year, Dinty wrote off $31,000 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,280,000, and cash collections from credit customers totaled $1,870,000.

What bad debt expense would Dinty report in its first-year income statement?

2****Logistics Company had the following items listed in its trial balance at 12/31/2016:

Balance in checking account, Bank of the East	$482,000
Treasury bills, purchased on 11/1/2016, mature on 1/30/2017	17,000
Loan payable, long-term, Bank of the East	400,000

Included in the checking account balance is $41,000 of restricted cash that Bank of the East requires as a compensating balance for the $400,000 note. What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

3*** Frasquita acquired equipment from the manufacturer on 6/30/2016 and gave a noninterest-bearing note in exchange. Frasquita is obligated to pay $572,000 on 4/30/2017 to satisfy the obligation in full. If Frasquita accrued interest of $15,000 on the note in its 2016 year-end financial statements, what amount would it record the equipment on its 6/30/2016 balance sheet?